Logan Circle and Dupont Circle saw the biggest year-over-year jump in house and condo prices last month, and houses and condos sold the fastest in Columbia Heights and Mt. Pleasant, according to a monthly snapshot of District sales from Long & Foster Real Estate Inc.
The numbers are based on just a handful of sales, but the median price of the 14 sales in Logan and Dupont in February was $618,500, up a whopping 48 percent from a year ago.
Of the 30 properties that sold in Columbia Heights and Mt. Pleasant, the listings were on the market an average of just 13 days.
Georgetown had the highest median sales price in February, at $1.1 million. Based on the 32 properties that sold, that's up 39 percent from the median sales price in Georgetown in February 2012.
Adams Morgan, U Street, Penn Quarter and Shaw is where buyers will find the most listings right now, with the current inventory in those neighborhoods representing about 20 percent of all listings in the District.
Long & Foster's monthly report also takes a broader, and more representative look at the District's housing market, with D.C.-wide statistics.
Of the 1,076 sales that closed in the District last month, the median price was $467,000, up 8 percent from a year ago. Inventory District-wide is down 14 percent from February 2013. Sales were up 2 percent.
© 2014 American City Business Journals, Inc.